Sections 3 to 7 of Chapter 44B of the General Laws of Massachusetts, also known as the ?Community Preservation Act? (hereinafter ?CPA? or ?Act?), establish a dedicated funding source to enable the Town to: (1) acquire, create or preserve open space, including land for recreational use; (2) acquire, preserve, rehabilitate and restore historic resources and artifacts; and (3) acquire, create, preserve and support community housing; and (4) rehabilitate or restore open space and community housing that is acquired or created as provided for in the Act. In the Town of Clarksburg, the Community Preservation Act will be funded by a surcharge of 3% on the annual property tax assessed on real property, beginning in fiscal year 2026, and by annual distributions made by the state from a trust fund created by the Act. The following exemptions from the surcharge, permitted under Section 3(e) of the Act, will apply: (1) property owned and occupied as a domicile by any person who qualifies for low income housing or low or moderate income senior housing, as defined in Section 2 of said Act; (2) $100,000 of the value of each taxable parcel of residential real property; (3) $100,000 of the value of each taxable parcel of class three, commercial property, and class four, industrial property as defined in section 2A of Chapter 59 of the General Laws. A taxpayer receiving a regular property tax abatement or exemption will also receive a pro rata reduction in surcharge. Upon acceptance of the CPA by the voters, a Community Preservation Committee will be established by by-law to study community preservation needs, possibilities, and resources, and to submit annual spending recommendation to Town Meeting for approval. At least 10% of the funds for each fiscal year must be spent or reserved for later spending on each of the Act?s three community preservation purposes: (1) open space; (2) historic resources; and (3) community housing. Town Meeting voted on May 29, 2024 to accept said sections 3 to 7, acting on Article 15 of the warrant.